Credit union insurance stalwart joins Open Lending
AUSTIN, TX (May 7, 2019) — Kevin Kindschi joined Open Lending as regional vice president of sales April 1. He has a long history in insurance sales in credit unions, after retiring from CUNA Mutual following a 30-year career.
“This was a detour from retirement,” Kindschi said with a chuckle. He explained that most of his friends were still working and he wanted to, too. “It’s refreshing to be doing something a little different. It’s nice to focus on one product and do it well.” His territory includes credit unions in California, Arizona and Nevada.
“We are very excited to welcome Kevin to the Open Lending team,” Open Lending CEO John Flynn said. “He brings a wealth of industry knowledge and a history of sales success through integrity that we appreciate here.”
“Open Lending brings a tremendous value to the table,” Kindschi continued. “A lot of people need financial help. With Open Lending’s Lenders Protection, credit unions will definitely be able to serve more members, particularly those who are credit challenged.”
Kindschi gave the example of his 22-year old son, who wanted a credit card but was turned down by a credit union for a credit card because he was young and didn’t have much credit. He then went to another credit union that approved him. He soon became a raving fan of his credit union and subsequently took out a car loan from that credit union. “My son’s credit union created a sense of loyalty for my son toward the credit union,” Kindschi explained, “and that’s the type of opportunity Open Lending’s Lenders Protection affords credit unions.”
“Credit unions have increased their loan-to-share ratios, but that’s mostly on A-paper loans,” Kindschi concluded. “With Lenders Protection, credit unions can reach more members, earn
more interest income and help more borrowers with lower credit scores achieve greater financial stability and earn their way to lower rates.”
Lenders Protection, the flagship product of Open Lending, provides default insurance so credit union leaders can feel greater confidence and security – for the credit union, its members and its regulators – in making loans to members with lower credit scores. Lenders Protection allows credit unions to reach more members with the goal of helping them rehabilitate their credit while generating higher yields on the loans credit unions make and lifelong loyalty from the members they assist.
About Open Lending
Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling and default insurance to auto lenders throughout the United States. For over 20 years they have been empowering financial institutions to create profitable auto loan portfolios by saying “yes” to more automotive loans. For more information, please visit www.OpenLending.com.